A California cannabis company has entered a partnership to help with family medical debts.
Pacific Stone says RIP’s unique purchasing model allows them to buy medical debts for pennies on the dollar.
Helping Relieve Medical Debt
According to Pacific Stone, every dollar donated relieves an average of $100 of medical debt.
Pacific Stone says it plans to raise $30,000 to alleviate $3 million worth of medical debt for Californians in need.
The program will launch at two Wellgreens dispensaries in San Diego from July 15 through July 17, with support from customers who purchase Pacific Stone products.
Pacific Stone says that buying an eighth (3.5g) bag or jar will erase $100 worth of debt, a 7g bag or pre-roll will erase $200, and an ounce (28g) will erase $600.
Pacific Stone CEO Skip Motsenbocker says collaborating with a mission-driven organization like RIP is a pleasure.
“Their noble work has already helped millions, and we are excited to help change the lives of many more families across Califronia,” says Motsenbocker. “The support of Wellgreens dispensaries is also critical to the success of this partnership. Moving forward, we hope that more dispensaries will get involved. Not only will their support help the families in need, but it can also help build a strong connection between the dispensary and the community it serves.”
Wellgreens CEO Sarmad Hallak says being good corporate citizens and community stewards means giving back to the residents they serve.
“No one should have to face crippling debt as a result of medical treatments they needed,” says Hallak. “That’s why we at Wellgreens are honored to contribute to RIP Medical Debt to alleviate a minimum of $200,000 of medical debt for San Diego families.”
The Struggle is Real
Pacific Stone says that its partnership with RIP is its latest step in abolishing financially burdensome medical debt in the United States.
The company says that by mimicking for-profit buyers, the national non-profit organization can purchase large medical debt bundles for less than market value.
Once the organization acquires the medical debt, they contact the owing families to inform them that they no longer owe the money.
Pacific Stone says that RIP has raised enough money to eliminate more than $7 billion in medical debt for nearly four million families.
RIP President Allison Sesso says medical debt is an American crisis that forces families to make difficult decisions and avoid crucial medical care.
It’s a situation that Sesso says isn’t any different in California.
“One in ten state residents struggle to pay their medical bills,” says Sesso. “We’re extremely grateful for Pacific Stone’s support and look forward to helping people in need across the Golden State.”
Pacific Stone says that once it achieves the fundraising goal, RIP will send branded letters to California residents with eliminated debts.
According to Pacific Stone, RIP will retire debts for people living below or 400 percent above the federal poverty level or owe at least five percent more than their annual income.
Pacific Stone says people cannot request relief as RIP randomly bases it on qualifying medical debts that it can purchase or receive through donation.
California dispensary who want to help with debt elimination efforts can contact their local Pacific Stone sales representative.
Anyone wishing to donate directly to the program can do so via the RIP website.